What is the difference between a corporation sole and corporation aggregate?
A corporation aggregate is a group of people.Corporations are legal entities that are their own.A simple partnership is not a separate legal entity from its members.
Even though incorporators cease to be involved for any reason, many corporations continue to exist.Corporations may exist for a limited life span due to provisions made during their creation.
A corporation aggregate is a group of people who unite to form one body.This body has an artificial form of succession and is legally vested with the ability to act and have the same rights as an individual.
It can express political rights in line with the constitution.
The powers granted to a corporation at the point of creation or during its existence can be used to do all of the above.There are examples of corporation aggregates.
A corporation sole is a group of individuals who hold the same title.A corporation sole is a single individual who has the ability to take, hold, grant, or purchase land and other personal properties.
The Post-Master General, the Crown, and the Minister of Agriculture are some examples of corporations sole.
The individual holding office and future successors are given the capacities of a sole corporation.This does not mean that there will be continuous succession since there may be periods where there are vacancies within the sole corporation.
The continuity of a corporation's identity is one of the main elements in a legal constitution.The original members and their successors are seen as one.
When an obligation or liability arises during the tenure of the original members of an aggregate or sole corporation, it remains binding on all subsequent successors, even if they are not yet named.
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